CIMC ENRIC(HK:03899)2023-09-06 09:37Financial Performance - Total revenue for the first half of 2023 reached RMB 10,756,489 thousand, representing a 20.2% increase compared to RMB 8,948,693 thousand in the same period of 2022[20]. - Gross profit increased by 24.5% to RMB 1,771,166 thousand, up from RMB 1,423,118 thousand year-on-year[20]. - EBITDA for the first half of 2023 was RMB 977,029 thousand, reflecting a growth of 21.9% from RMB 801,814 thousand in the previous year[20]. - Core profit rose by 17.7% to RMB 625,944 thousand, compared to RMB 531,831 thousand in the first half of 2022[20]. - The company reported a net profit attributable to equity holders of RMB 568,673 thousand, a significant increase of 29.4% from RMB 439,315 thousand year-on-year[20]. - Net profit for the period was RMB 570,032 thousand, a rise of 25.7% compared to RMB 453,619 thousand in the prior year[26]. - Basic earnings per share increased to RMB 0.283, up from RMB 0.219, reflecting a growth of 29.3%[25]. - The company reported a total comprehensive income of RMB 626,288 thousand for the period, compared to RMB 427,412 thousand in the previous year, an increase of 46.6%[26]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 23,584,562 thousand, up 6.2% from RMB 22,214,474 thousand at the end of 2022[19]. - Total liabilities increased to RMB 13,776,258 thousand from RMB 12,686,967 thousand, marking an increase of 8.6%[29]. - Net assets rose to RMB 9,808,304 thousand, up from RMB 9,527,507 thousand, reflecting a growth of 2.9%[29]. - The company's cash and cash equivalents decreased by 4.4% to RMB 4,993,951 thousand from RMB 5,223,453 thousand[19]. - The leverage ratio increased to 26.5%, up 5.5 percentage points from 21.0% at the end of 2022[19]. Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2023, was RMB 568,123 thousand, a decrease from RMB 1,580,454 thousand in the same period of 2022, representing a decline of approximately 64.0%[32]. - The net cash used in investing activities amounted to RMB 902,390 thousand, compared to RMB 215,241 thousand in the previous year, indicating a significant increase in investment outflows[32]. - The net cash generated from financing activities was RMB 100,927 thousand, a recovery from a net cash outflow of RMB 162,533 thousand in the same period of 2022[32]. Market and Growth Outlook - The company has set a future revenue guidance of RMB 1 billion for the second half of 2023, indicating a strong growth outlook[30]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share by the end of 2024[30]. - New product development initiatives are underway, with an investment of RMB 32,949 thousand allocated for R&D in the first half of 2023[30]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[50]. Segment Performance - The clean energy segment saw a revenue increase of 34.4% to RMB 6,293,551,000, contributing 58.5% of total revenue[102]. - The liquefied food segment's revenue increased by 17.3% to RMB 2,012,106,000, compared to RMB 1,714,941,000 in 2022[99]. - The chemical environment segment experienced a revenue decline of 3.9% to RMB 2,450,832,000 from RMB 2,550,409,000[99]. Research and Development - Research and development costs for the first half of 2023 were RMB 318,820,000, compared to RMB 217,949,000 in the same period of 2022, reflecting a 46% increase[57]. - Significant R&D achievements include the completion of the second-generation liquid helium tank, which has reached international leading standards and commenced mass sales[138]. - Ongoing R&D efforts focus on improving resource efficiency and developing sustainable solutions, including advanced distillation systems and automated brewing lines[149]. Corporate Governance - The financial report was approved for publication on August 23, 2023, and has been reviewed but not audited, ensuring transparency in financial reporting[33]. - The company has adhered to all corporate governance codes as per the Hong Kong Stock Exchange regulations during the reporting period[169]. - The board of directors consists of a mix of executive and independent non-executive directors, ensuring diverse governance[173].